Financials Beijing Shougang Co., Ltd.

Equities

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-06-06 pm EDT			5-day change	1st Jan Change
2.97 ^CNY	+0.68%		-4.81%	-14.16%

May. 20	Beijing Shougang Co., Ltd. announced that it expects to receive CNY 493.958306 million in funding	CI
Apr. 22	Beijing Shougang's Q1 Attributable Loss Narrows by 58%; Shares Fall 5%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	18,672	20,258	38,679	29,481	26,969	23,150	-	-
Enterprise Value (EV) ¹	18,672	20,258	38,679	29,481	26,969	23,150	23,150	23,150
P/E ratio	14.9 x	11.3 x	5.07 x	25.2 x	40.4 x	19.8 x	17 x	19.8 x
Yield	-	-	-	-	0.87%	-	-	-
Capitalization / Revenue	0.27 x	-	-	-	0.24 x	0.23 x	0.21 x	0.23 x
EV / Revenue	0.27 x	-	-	-	0.24 x	0.23 x	0.21 x	0.23 x
EV / EBITDA	-	-	-	-	3.04 x	2.58 x	2.52 x	2.41 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.69 x	-	-	-	0.55 x	0.46 x	0.45 x	0.45 x
Nbr of stocks (in thousands)	5,289,390	5,289,390	6,750,325	7,819,869	7,794,612	7,794,612	-	-
Reference price ²	3.530	3.830	5.730	3.770	3.460	2.970	2.970	2.970
Announcement Date	4/23/20	4/6/21	4/27/22	4/20/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	69,151	-	-	-	113,761	99,857	111,222	100,452
EBITDA ¹	-	-	-	-	8,877	8,959	9,184	9,586
EBIT ¹	2,024	-	-	-	922.8	1,108	1,900	1,641
Operating Margin	2.93%	-	-	-	0.81%	1.11%	1.71%	1.63%
Earnings before Tax (EBT) ¹	1,997	-	-	-	900.3	1,075	1,722	1,600
Net income ¹	1,251	-	7,014	1,125	663.8	1,181	1,361	1,197
Net margin	1.81%	-	-	-	0.58%	1.18%	1.22%	1.19%
EPS ²	0.2365	0.3377	1.129	0.1496	0.0856	0.1500	0.1750	0.1500
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	0.0300	-	-	-
Announcement Date	4/23/20	4/6/21	4/27/22	4/20/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	4.77%	-	2.42%	1.35%	2.34%	2.62%	2.34%
ROA (Net income/ Total Assets)	0.91%	-	-	0.47%	1.5%	1.8%	-
Assets ¹	138,237	-	-	140,358	78,755	75,591	-
Book Value Per Share ²	5.110	-	-	6.350	6.470	6.630	6.640
Cash Flow per Share ²	0.6300	-	-	0.7900	1.430	1.440	1.290
Capex ¹	5,467	-	-	1,762	4,050	4,050	877
Capex / Sales	7.91%	-	-	1.55%	4.06%	3.64%	0.87%
Announcement Date	4/23/20	4/27/22	4/20/23	4/21/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2.97 CNY

Average target price

4.04 CNY

Spread / Average Target

+36.03%

	1st Jan change	Capi.
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INNER MONGOLIA BAOTOU STEEL UNION CO., LTD.	0.00%	9.15B
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JINDAL STAINLESS LIMITED	+42.27%	7.84B
TERNIUM S.A.	-8.83%	7.7B